Loan Comparison: 3.47% vs 6.5%
5565 Trout Creek Pass, Colorado Springs, CO 80917 · 5bd/3ba · $425,000
List Price
$425,000
Assumable Rate
3.47%
Remaining Balance
$206,626
Equity Gap
$218,373
Loan Type
VAAdjust Your Scenario
$21,250
$21,250$218,373
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (VA)
Blended Rate: 5.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 3.47% + gap loan
$2,440/moAssumed loan: $924/mo
Gap financing: $1,516/mo
$112less per month with the assumable
Your Savings on This Property
5565 Trout Creek Pass, Colorado Springs · 3.47% VA vs 6.5% conventional
$112
per month
$1,343
per year
$40,278
over 30 years
$40,277
interest saved
How gap financing works: The equity gap ($218,373) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($197,123 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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